Ex-Canopy CTO Pleads Guilty To Role In $93M Scheme

Law360, New York (September 13, 2010, 6:20 PM EDT) -- The co-founder and former chief technology officer of Canopy Financial Inc. has admitted to plundering $18.1 million from clients' health care savings accounts as part of a $93 million scheme to solicit investments in the health care banking technology startup.

Anthony Banas pled guilty to one count of wire fraud and said he acted with the intent to defraud investors in Canopy in a plea agreement filed Wednesday in the U.S. District Court for the Northern District of Illinois.

Prosecutors anticipate the guilty plea will come...
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